Madrileño slang circa 1981 - calamares, boquerones

Madrileño slang circa 1981 - calamares, boquerones
 

I am wondering whether anyone can help explain some slang terms from a silly song sung in Almodóvar's film Laberinto de pasiones (1982).

The song is Gran Ganga.

One line speaks of
calamares por aquí, boquerones por allá

Another couple of lines seems to refer to something sexual, but I am not sure of the meaning:

Lo que no da un polvo
Tu sabes bien que es un estorbo

(There are recordings of the song on youtube.)

As far as I understand, the lyrics are absurd on purpose, like the line with the anchovies and the squids "everywhere", which doesn't seem related to being from Tehran.

"Polvo" is vulgar slang for "sexual intercourse".

Agree with Angélica... (I don't know the song, but...)

"calamares por aquí, boquerones por allá"

Could be a spoof on the "Pajaritos" song "pajaritos por aquí, pajaritos por allá"... Happy holiday season, and happy 2016!